I’m a reporter at Forbes Asia based in Hong Kong, covering startups, sustainability and financial inclusion. You can email me at catherine.wang [at] forbes.com.
anaging payroll and other HR tasks is not necessarily “exciting,” admits Ben Thompson, cofounder and CEO of Sydney-based Employment Hero. But digitizing HR processes gave his team the opportunity to “do a lot more than just software-as-a-service business,” as part of the newly minted unicorn startup’s broader goal of empowering employees.
Technology Crossover Ventures , the Palo Alto-based firm best known for its investments in Airbnb, Meta and Netflix, was sold on Thompson’s vision. TCV led a A$263 million in a Series F funding round for Employment Hero. Targeting SMEs, Employment Hero provides online tools for businesses to oversee HR-related operations, such as managing payroll, onboarding new hires, upskilling teams and monitoring their performance. The company, which remains unprofitable, claims it works with over 300,000 businesses worldwide. Employees can download Swag, Employment Hero’s self-described “HR superapp,” to view their wages and search for internal job openings, among other functions.
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